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Against A TradeTitle:
Euro crippled by Greek political turmoil
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Forex: Euro, risk currencies tumble on worries over Greece
Global Markets: Stock markets plummet on political turmoil in Greece
Greece: Greece set for new elections as President fails to forge coalition
Japan: BOJ may lower interest paid at cash held with central bank; USD/JPY
United States: CPI as expected at 2.3% y/y, FOMC minutes due today
United Kingdom: BoE Quarterly inflation report scheduled for 11:30 CET
Forex rates in Asia and Indices:
Low High Change
EUR/USD 1.2683 1.2738 -0.26 %
USD/CHF 0.943 0.9471 -0.26 %
GBP/USD 1.5949 1.5999 -0.19 %
USD/JPY 80.16 80.45 -0.28 %
EUR/CHF 1.2010 1.20127 0.00 %
EUR/JPY 101.91 102.38 -0.00 %
Dow Jones ...
Title:
Greek Political Impasse Leads to Euro Losses
The euro started off yesterday's trading session on a positive note following a better than expected German Prelim GDP figure which caused the EUR/USD to advance to 1.2868. That being said, the common currency came under pressure later in the day following another failed attempt by Greek politicians to form a new government, virtually guaranteeing new elections will take place next month. As a result, the euro fell as low as $1.2769 during the afternoon sessoin. Turning to today, traders will want to pay attention to the US FOMC Meeting Minutes, set to be released at 18:00 GMT. Any signs that the Federal Reserve is preparing for another round of quantitative easing could result in the greenback turning bearish.
Economic News
USD - US Manufacturing Data Sends USD/JPY Over 80.00
The ...
Title:
Market Drivers - Currencies
Market Drivers - Currencies -Today's Comment
What a day yesterday - just what we had expected after the MSCI World, the CRB index, gold and EURUSD had breached the gradually established trend channels and important technical levels. The 'trigger' for the general movement was the announcement from Greece to the effect that no agreement could be reached and that a new election will be called. Particularly NOK and SEK was under fire, and 'belief' of the scandies investors was definitely tested. What actually happened is that the investors were very heavily invested in SEK and NOK, and now that everybody wants out, the door is narrow. We have said it before - NOK and SEK are not safe havens (at least only during very calm periods).
Today - in the midst of the important events - we will get ...
Title:
Global shares sag as Greek turmoil saps risk appetite
Asian shares fell more than 3 percent, the biggest one-day drop in six months, and the dollar rose broadly on Wednesday after efforts to form a new government in Greece collapsed, fuelling fears that a second election in June could precipitate Athens' exit from the euro zone and deepen the bloc's debt crisis.
European shares were expected to extend losses as well, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open down as much as 1 percent. U.S. stock futures were down 0.2 percent. .EU .L .N
Investors continued to reduce positions in riskier assets, leading to a fall of more than $1 in oil prices and a drop to a 4-month low for spot gold, while lifting the dollar which tends to be seen as safe haven in times of heightened uncertainty.
MSCI' ...
Title:
Majors keeps declining on Confidence absence
High risk and instability in financial markets negatively affected on major currencies and led them to fell to leave the chance for American dollar to gain profits against other currencies, where the Greek worries keep worsen which increase expectations about Greek that will exit euro zone, which made the Euro traded near the lowest in four months.
EUR/USD pair slumped with the beginning of today’s Asian session to record low of 1.2697 after opening at 1.2734 and high of 1.2734.Euro recorded the lowest in almost three months against yen at 102.08.
USD/JPY pair inclined today after releasing Japan’s machinery orders that fell in March, which negatively on Japanese yen against dollar, while yen did not affected against other high revenues currencies according to the weak demand on them.
...
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Pound`s focus on United Kingdom Labor Sector, Inflation Report
The focus shifts from Greece and the political tension to the United Kingdom today, where the royal economy will provide markets will data regarding the performance of the labor sector amid the current economic situation and the spending cuts adopted by the British government, which attempts to trim the huge deficit the nation handles.
The performance of the labor sector is not expected to improve in April, where the claimant count rate, which measures the number of people claiming unemployment benefits in the royal economy, could have expanded in the month to 5.0% from the previous of 4.9%, as additional five thousand Britons could have applied for benefits in the related month.
Other bearish signs will be provided by the ILO unemployment report, where the joblessness in the United ...
Title:
Greek worries push euro to four-month low; more losses eyed
The euro hit another four-month low against the dollar on Wednesday and was likely to extend hefty losses sustained so far this month after Greece said it would hold new elections, boosting the risk Athens could exit the euro.
The prospect of prolonged political instability in the debt-ridden country, compounded by skittish sovereign bond markets sent Asian bourses sharply lower, with analysts saying the euro and other risk-sensitive currencies would remain under severe pressure.
A Greek departure from the euro zone would also have a potentially huge knock-on effect on struggling economies such as Italy and Spain, whose bond yields climbed above the crucial 6 percent mark the day before.
"An entry to the euro zone was supposed to be irrevocable. They tore down the bridge so people ...
Title:
Gold hits 4-1/2 month low, Greece heads for elections
Gold slipped to a fresh 4-1/2 month low on Tuesday as the euro continued to lose ground to the dollar after Greece's failure to form a coalition government heightened concerns over Europe's financial crisis and led investors to spurn risky assets.
After six rounds of fruitless wrangling, Greece abandoned efforts to form a government and called a new election that some investors fear may hand victory to the leftists, undo the country's financial bailout package, and push it closer to bankruptcy and out of the euro zone.
In response, gold slipped with the euro, which tumbled to new four-month lows in late New York trade. The euro had fallen in five of the last six sessions on worries over Greece's June election prospects, dragging gold down with it.
Title:
Euro slides to fresh 4-month low on Greek concerns
The euro dropped to a four-month low against the U.S. dollar on Tuesday after Greece failed to form a government and said it would hold new elections, raising risks it could eventually exit the euro.
The euro fell for a fifth of the last six sessions on chances left-wing politicians opposed to Greece's international bailout could win the June elections. The prospect increased risk aversion and German government bonds rose sharply. Italian and Spanish 10-year yields hit 6 percent on the news.
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